Share: China’s economic indicators signal distress, with weak retail sales, plunging imports/exports, and Evergrande’s bankruptcy filing. US Federal Reserve minutes highlight commitment to 2% inflation target but voices caution against overtightening. Traders eye upcoming S&P Global PMIs in Australia and a slew of US data, including Powell’s Jackson Hole speech, for directional cues.
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Share: NZD/USD trades with losses below 0.6000, its lowest in nine months. China reported weak Retail Sales and Industrial Production data from July. American Retail Sales from the US were higher than expected. In Tuesday’s session, the NZD/USD traded lower, mainly driven by China’s fragile economic situation. On the other hand, the USD, despite
Share: EUR/GBP declined for a second consecutive day, and fell towards 0.8605, below the 20-day SMA. All eyes are now on labour market and inflation data from the UK. The Eurozone will release its preliminary Q2 GDP report on Wednesday. At the start of the week, the EUR/GBP fell below the 20-day Simple
Share: Market sentiment remains sour on China debt woes, geopolitical fears. S&P500 Futures lick its wounds at the lowest level in a month during five-day downtrend. Treasury bond yields approach yearly tops marked earlier in August. Fears emanating from China’s Country Garden, Zhongrong Trust propel debt woes. The risk appetite remains downbeat during
Share: Next week, key events in the US include Retail Sales data and the release of the FOMC minutes. Market participants will also closely listen to comments from Fed officials as they prepare for the Jackson Hole Symposium. In the UK, inflation and employment data will be reported. The RBNZ will have its
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Share: Late in the New York session, the Pound Sterling (GBP) continued to hold its ground against the US Dollar (USD) after UK’s economy grew more than expected, despite US elevated inflation on the producer side. Hence, the GBP/USD trades at 1.2697, gaining 0.16%. Read More… The Pound Sterling (GBP) seems to be
Share: US crude oil benchmark, WTI, rises for the third consecutive day, trading at $83.48, up by 0.80%. Oil demand is predicted to grow by 2.25 million bpd in 2024, down from 2024’s 2.44 million bpd, according to OPEC+. Weakness in China’s economy could dent oil demand. Western Texas Intermediate (WTI), the US
The market has been laser-focused on inflation for the past year but as prices cool and inflation nears target, the focus will shift to economic strength and for clearer signs of a recession. One of the best economic indicators for the health of the US economy is retail sales and it will be the focus
